Netflix Tanks After Hours: Lessons Learned

SO Netflix is finally falling apart… The momentum scam stock that everyone but shortsellers loves finally had it’s face ripped off for a change and is now a full 15% below its recent highs at $304 or so per share. We nailed this one for readers and even published a short article on Seekingalpha about the stock and why it would fall apart.

I think the name has much further to drop, but I will likely be holding what I have short the name versus adding to the position…

One thing we learned here was the importance of the phrase “If you’re right, sit tight…” That comes to us fro Jesse Livermore… Anwyays, NFLX is down 8% or so after hourse and we are psyched about it after strarting a position int he $274 area, adding to it at 285, and again at 295 and so on… basically, start small and work into a full position… that’s my lesson for today… Also our “gap and crap” trade worked for readers but in reverse today… The morning gap lower was filled at which point you could short the index funds for a nice afternoon “ay hedge” lower… Is AMZN next?

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